Chapter 12: Q 57. (page 809)
In Problems 51–60, write out each sum.
Short Answer
The required sum is.
Chapter 12: Q 57. (page 809)
In Problems 51–60, write out each sum.
The required sum is.
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Get started for freeEducation IRA: On January 1, 1999, John’s parents decided to place \(45 at the end of each month into an Education IRA.
(a) Find a recursive formula that represents the balance at the end of each month if the rate of return is assumed to be 6% per annum compounded monthly.
(b) How long will it be before the value of the account exceeds \)4000?
(c) What will be the value of the account in 16 years when John goes to college?
A pond currently has 2000 trout in it. A fish hatchery decides to add an additional 20 trout each month. In addition, it is known that the trout population is growing 3% per month. The size of the population after n months is given by the recursively defined sequence.
(a) How many trout are in the pond at the end of the second month? That is, what is p2?
(b) Using a graphing utility, determine how long it will be
before the trout population reaches 5000.
Roth IRA On January 1, 1999, Bob decided to place \(500 at the end of each quarter into a Roth Individual Retirement Account.
(a) Find a recursive formula that represents Bob’s balance at the end of each quarter if the rate of return is assumed to be 8% per annum compounded quarterly.
(b) How long will it be before the value of the account exceeds \)100,000?
(c) What will be the value of the account in 25 years when Bob retires?
In Problems 11–16, evaluate each factorial expression.
In Problems 17–28, write down the first five terms of each sequence.
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